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Bipartisan senators offer new bill aimed at lowering drug prices

  • Senators Josh Hawley and Peter Welch have proposed a bill aimed at lowering prescription medication costs in the U.S. By ensuring American prices do not exceed those in several other developed nations.
  • The legislation addresses the issue that U.S. Patients face significantly higher prescription drug costs compared to those in several other developed nations, contributing to challenges in medication affordability.
  • It proposes civil penalties that require companies to pay ten times the difference per unit sold if they charge higher than the international average drug price in the U.S.
  • Senator Hawley highlighted that Americans have been bearing the financial burden of prescription drugs for people in other countries while facing excessively high prices for their own medications, and Senator Welch described the current drug pricing situation as intolerable.
  • The bill aims to continue reforms reducing drug costs, offering a bipartisan framework to make medicines affordable and end markets that favor pharmaceutical companies over patients.
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The U.S. pharmaceutical industry estimates that President Donald Trump’s new drug price proposal could cost the sector up to $1 billion in a decade, according to his largest business group to members of Congress. The idea, first presented last week by the White House as a way to help finance the president’s tax cut plan, took the pharmaceutical industry by surprise and triggered an angry pressure campaign.

·Madrid, Spain
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The Senate announced a bipartisan bill aimed at lowering the price of medicines. It is the Fair Prices Act for Prescribed Medicines for Americans, which focuses on the list price of drugs and was promoted by Senators Josh Hawley (R-MO) and Peter Welch (D-VT). Read more]]>

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Political Wire broke the news in New York, United States on Monday, May 5, 2025.
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